While the PPI accounts may be “reloadable in nature”, the amount outstanding cannot exceed ₹3,000 at any time and no cash withdrawal, refund or funds transfer will be permitted. Further, these PPIs will have perpetual validity, as per the amended master ...
RBI circular on Maintenance of Cash Reserve Ratio (CRR) by Scheduled State Co-operative Banksraj kumar makkadEmail thisPrint this
Minimum capital adequacy ratio has been kept at 15% for a small finance bank and payment banks. It has been kept at 9% for local area banks and regional rural banks. According to the RBI’s circular, banks must compute dividends on the basis of the “dividend payout ratio”. Dividend p...
Usually, the financing is done by setting a limit based on the Anchor’s credit standing, with a bank or NBFC. Both banks and NBFCs are active in the space. Financing may be done by discounting of supply bills, either accepted by the Anchor as due for payment, or drawn by the Anchor...
Indian central bank clarifies regulations as local banks shun crypto May 31, 2021 by Helen Partz Banks like HDFC and the State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. 14018 News OKEx Launches Indian P2P Trading Platform Despite...
2. RBI has released draft circular on Credit Card Network Portability. RBI has proposed rules that could possibly restrict card issuers from engaging in exclusive arrangements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would apply to both banks and...
IRDA: issues Master Circular on Insurance Advertisements. The guidelines have been issued with the intention of protecting the interest of the insuring public, enhance their level of confidence on the nature of sales material used and ultimately encourage fair business practices. They are to be consi...
The charges for transactions up to ₹50,000 shall continue as provided in circular DPSS (CO) No.1381/04.09.003/2008-09 dated February 09, 2009. For transactions beyond ₹50,000, the charges prescribed by SBI shall apply. The banks shall put in place suitable velocity checks and ot...
As per NPCI circular, the maximum amount that can be transferred is Rs 2 Lakh per transaction. Any transaction more than Rs 2 Lakh will not get processed. IMPS transfer can be done only between the participating banks for IMPS transactions by NPCI. ...
Any ‘identity document’ obtained for KYC invariably has a date of birth on it. In the context of the subject line of the above circular while advising banks to automatically convert CASA as well as term deposit accounts of individual customers to senior citizens'...